A bill to amend the Trade Expansion Act of 1962 in order to revoke the President's authority to impose any tax or fee on imports of petroleum and petroleum products into the United States without first being specifically authorized to do so by the Congress.

Amends the Trade Expansion Act of 1962 to prohibit the President from taking action, pursuant to the President's authority to adjust the imports of articles which threaten national security, to impose import fees on petroleum and petroleum products imported into the United States without specific authorization from Congress, effective March 1, 1980.